Cell Genesys sells technology for $12M

US firms Cell Genesys and GBP IP, an affiliate of GBP Capital, the majority shareholder in privately-held Lentigen Corp, have entered into an asset sale agreement relating to Cell Genesys' lentiviral gene delivery technology, commonly referred to as lentiviral vectors. As a result of the deal, Cell Genesys has received a payment of $12.0 million from GBP IP in exchange for all intellectual property and previously-established licensing agreements relating to its technology. Cell Genesys will retain rights to use the technology for R&D purposes, including potential future use with cancer immunotherapy products.

Over the years, Cell Genesys has successfully leveraged its non-core business assets through strategic spin outs and out-licensing agreements. In 1996, it spun out its antibody technology creating Abgenix, a company that was acquired in 2005 by Amgen for around $2.6 billion. In 2001, it launched Ceregene, a privately-held company that is focused on developing gene therapies for neurodegenerative disorders. Cell Genesys currently holds a 16% ownership in Ceregene. In addition, Cell Genesys has out-licensed various non-core technologies including other gene delivery technology and gene activation technology resulting in over $60.0 million in non-dilutive financing.